NASDAQ$JOYY
JOYY Inc.-ADR · Q3 2025 earnings
Q3 2025 earnings · · After market close · Investor relations
Briefing
JOYY delivered Q3 operating income of $19.6M as BIGO Ads revenue surged 29%
JOYY Inc. reported third quarter 2025 net revenues of $540.2 million, down from $558.7 million a year ago but up 6.4% sequentially, as live streaming revenue stabilized at $388.5 million (+3.5% QoQ) and advertising revenue jumped 29.2% to $112.5 million. Operating income rose 19.1% year over year to $19.6 million and non-GAAP EBITDA increased 16.8% to $50.6 million. Net income from continuing operations attributable to controlling interest was $62.0 million. Global mobile MAUs averaged 266.2 million while BIGO Ads revenue reached $103.9 million, up 33.1% year over year. Net cash totaled $3.32 billion and the company returned $147.9 million in dividends plus $88.6 million in share repurchases year to date through November 14.
- Net revenues were $540.2 million with live streaming at $388.5 million and advertising up 29.2% to $112.5 million.
- Operating income rose 19.1% YoY to $19.6 million; non-GAAP EBITDA grew 16.8% to $50.6 million.
- Non-GAAP net income was $72.4 million; diluted EPS from continuing operations was $1.15 per ADS.
- BIGO Ads revenue reached $103.9 million (+33.1% YoY, +19.7% QoQ) as SDK ad requests rose 228% YoY.
- Q4 revenue guidance of $563–578 million; quarterly dividend of $0.97 per ADS declared for Q4 2025.
Headline financials
Revenue & EPS history
JOYY · Revenue · Quarterly
$540M
Revenue by segment
JOYY · $540M total across 3 segments · Q3 2025
- Live streaming$389M—71.9%
- Advertising$113M—20.8%
- Other (primarily advertising)$39.2M—7.3%
Forward guidance
JOYY expects Q4 2025 net revenues between $563 million and $578 million, reflecting continued live streaming recovery and advertising momentum.
Tailwinds
- Second consecutive quarter of sequential live streaming revenue growth
- BIGO Ads scaling rapidly with AI-driven optimization and expanded SDK traffic
Headwinds
- Live streaming revenue still down 11.6% year over year due to prior operational adjustments
- Global MAUs declined modestly to 266.2 million from 272.4 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
+0.7%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+3.2%
Avg return
30 days after
53%
29 / 55 earnings
Positive
+72.5%
Q4 2021
Best reaction
-14.9%
Q2 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q4 2025 | +0.1% | -0.6% | -1.8% | |
| Q3 2025 | +6.4% | +7.7% | +8.7% | |
| Q2 2025 | +3.8% | +4.9% | +13.6% | |
| Q1 2025 | +4.3% | +3.2% | +10.2% | |
| Q4 2024 | -12.1% | -10.3% | -16.4% | |
| Q3 2024 | +11.4% | +21.0% | +20.7% | |
| Q2 2024 | +2.7% | +2.1% | +11.7% | |
| Q1 2024 | -3.7% | -8.2% | -7.8% | |
| Q4 2023 | -2.4% | -4.8% | -0.2% | |
| Q3 2023 | -2.1% | -4.7% | +1.2% | |
| Q2 2023 | +2.8% | +4.8% | +15.9% | |
| Q1 2023 | -12.1% | +2.0% | +7.1% | |
| Q4 2022 | +1.9% | +6.1% | +7.4% | |
| Q3 2022 | +10.3% | +10.1% | +17.4% | |
| Q2 2022 | -13.5% | -10.5% | -19.4% | |
| Q1 2022 | -12.5% | -13.5% | -25.6% | |
| Q4 2021 | +72.5% | +74.6% | +61.6% | |
| Q3 2021 | -1.6% | +1.4% | -11.0% | |
| Q2 2021 | +11.8% | +21.3% | +35.2% | |
| Q1 2021 | -9.4% | -11.0% | -16.8% | |
| Q4 2020 | -11.3% | -11.7% | -8.6% | |
| Q3 2020 | +6.4% | -9.5% | -12.7% | |
| Q2 2020 | +6.9% | +5.2% | -3.5% | |
| Q1 2020 | +0.5% | -11.6% | +54.0% | |
| Q4 2019 | -2.6% | -17.1% | +14.3% | |
| Q3 2019 | -3.9% | -5.4% | -12.9% | |
| Q2 2019 | +3.1% | +5.5% | +15.3% | |
| Q1 2019 | +4.5% | +6.8% | +7.7% | |
| Q4 2018 | +14.9% | +7.1% | +24.4% | |
| Q3 2018 | -6.8% | +4.8% | +1.2% | |
| Q2 2018 | -14.9% | -17.1% | -19.6% | |
| Q1 2018 | -12.7% | -9.0% | -21.7% | |
| Q4 2017 | -11.2% | -10.3% | -22.8% | |
| Q3 2017 | +22.9% | +18.4% | +19.5% | |
| Q2 2017 | +1.2% | -6.2% | +0.1% | |
| Q1 2017 | -1.8% | +0.7% | +7.1% | |
| Q4 2016 | -3.6% | +4.5% | -9.9% | |
| Q3 2016 | +0.9% | +3.9% | -4.6% | |
| Q2 2016 | +4.4% | +3.6% | +12.1% | |
| Q1 2016 | +1.2% | -1.5% | -22.2% | |
| Q4 2015 | -0.1% | — | — | |
| Q3 2015 | -0.7% | — | — | |
| Q2 2015 | +0.4% | — | — | |
| Q1 2015 | -7.4% | — | — | |
| Q4 2014 | +12.3% | — | — | |
| Q3 2014 | -3.5% | — | — | |
| Q2 2014 | +8.1% | — | — | |
| Q1 2014 | -6.3% | — | — | |
| Q4 2013 | +2.9% | — | — | |
| Q3 2013 | -11.4% | — | — | |
| Q2 2013 | -4.3% | — | — | |
| Q1 2013 | +3.9% | — | — | |
| Q4 2011 | +0.1% | — | — | |
| Q4 2010 | +0.1% | — | — | |
| Q4 2012 | -13.2% | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q3 2011 | — | — | — |
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